Sprint's Chief Financial Officer booked more than $600,000 in airplane travel last year, outspending CEO Dan Hesse by a factor of 30. The extravagant perk was revealed in a recent SEC filing.
When Robert Brust joined Sprint last May, his employment contract specified that he was entitled to receive as many as 35 round-trip personal domestic flights on either company aircraft or charters. Sprint's compensation committee noted that the perk was offered to Brust as part of a larger compensation package and was necessary to attract him to work with the company following his retirement from Kodak.
In comparison, Hesse had spent so little that Sprint wasn't required to break out the details; it appears to be around $20,000, given some other numbers in the SEC filing.
For more:
- Perk Watch at NYTimes.com reveals a perk we'd like to have. Blog [1].
Related articles
Sprint Nextel [2] to cut 8,000 jobs
Sprint forecasts 6 percent drop in revenue [3] in 2009
Links:
[1] http://dealbook.blogs.nytimes.com/2009/04/02/big-perk-for-sprints-pen-pinching-finance-chief/?ref=global
[2] http://www.fiercewireless.com/story/sprint-nextel-cut-8-000-jobs/2009-01-26
[3] http://www.fiercewireless.com/story/sprint-forecasts-6-percent-drop-revenue/2009-03-02